🔥 Citadel demands the SEC to regulate DeFi protocols as exchanges... and anger spreads throughout the community!
Citadel has submitted a request to the Securities and Exchange Commission (SEC) demanding that DeFi protocols be considered exchanges that should be regulated just like centralized platforms.
⚠️ The move has sparked a huge wave of anger within the crypto community because:
• Regulating DeFi as an exchange effectively means killing decentralization
• It imposes KYC requirements and restrictions that cannot be applied to automated protocols
• It gives traditional authorities greater control over systems designed to be intermediaries-free
🔍 Many see Citadel as trying to protect its traditional model from DeFi competition, while others consider this pressure an attempt to slow down innovation.
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